InnovAge Holding Corp. Settles Securities Claim for $27 Million

$27 million settlement has been reached in a securities class action lawsuit against InnovAge Holding Corp. The lawsuit alleged that the company and other defendants violated federal securities laws by making false and misleading statements and omissions in connection with its initial public offering (IPO) and subsequent public statements. Consumers who purchased or acquired InnovAge publicly traded common stock between May 11, 2021, and Dec. 22, 2021, or bought shares traceable to InnovAge’s March 4, 2021, IPO may be eligible to claim a cash payment from the settlement.

Individuals and entities who meet certain criteria may qualify for the settlement. The total settlement fund is $27,000,000, with an estimated average recovery per affected share of $0.699 before deductions for fees and expenses. After deductions, the average recovery is estimated at $0.538 per affected share. The amount each class member receives will depend on the number of valid claims submitted, the number of shares purchased/acquired and sold, and the total number of affected shares claimed by all class members.

To claim a securities payout, class members can file a claim online or by mailing a completed claim form to the settlement administrator. Claims must be postmarked or submitted online by Nov. 5, 2025. Documentation verifying transactions in InnovAge publicly traded common stock, such as broker confirmation slips or monthly brokerage account statements, must be provided with the claim. Failure to provide adequate documentation may result in claim rejection.

Payments to eligible claimants will be made by paper check mailed to the address provided on the claim form. The breakdown of the $27,000,000 settlement fund includes costs for notice and administration, attorneys’ fees and expenses, and taxes, with the remainder going to class members. Important dates to note include the claim deadline of Nov. 5, 2025, the exclusion deadline of Nov. 5, 2025, and the fairness hearing on Nov. 26, 2025.

Payments to eligible class members will be made after final court approval of the settlement and resolution of any appeals or objections. The settlement was reached to provide recovery to class members and avoid the risks, delays, and expenses of continued litigation, with the defendants denying any wrongdoing.